Look
back at one's thoughts and predictions years ago can be enlightening.
I found my 5th post ever on the internet, California-2009-the-bottom-is-coming.
Though not written in HTML and perhaps not the best written,
it was quite fun to see how accurate I was at the time. My
friends in California were in total disagreement with me on my theory
of the downfall of California.
Where
I was wrong, though not noted
in the post, was I thought a tic in the interest rates would cause the
landslide. I was definitely off on the recovery time period.
We still are not at the point where California was 15 years
ago relative to the rest of the US as far as comparing median pricing;
but, we are finally getting close. i.e. California is finally
getting their pricing where it should be in a normal market; but, of
course, we are not in a normal market.
I
still am worried of a double dip for California if rates
were to increase a point or so in the coming year.
Here, below $500k is pretty close to a normal market, whereas above $1mm, we have been hit very hard as well as our lost jobs were mostly high paying executive jobs.
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